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Jun 20, 2017
06/17
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ford has scrapped plans to build a small car in mexico, opting to import vehicles from china instead it that starts at the second half of 2019 and will face $1 billion. the odd makers investing $9 million in upgrading its kentucky truck plant to build and navigators. the move secured 1000 jobs at the louisville plant. the winning streak has come to an end. the investment firm hosted a 33% drop in bond trading revenue, fixed revenue fell to roughly $158 million with total trading declining 7%. big -- s conclude how if the billionaire steps down next year as chairman of pk hutchinson holdings -- the empire includes telecom, retail and poor businesses. the wall street journal faced the elderly sat down by july when he turns 90. 32 point $5 billion, second only to jack ma. that is your bloomberg business flash. scarlet: for a little more context, this is rich go on the bloomberg. and number 22 globally you get a snapshot overall, including his nickname superman for his business acumen. the fact he is number one ranked in hong kong. when you look at net worth uplysis, tk hutchison makes a
ford has scrapped plans to build a small car in mexico, opting to import vehicles from china instead it that starts at the second half of 2019 and will face $1 billion. the odd makers investing $9 million in upgrading its kentucky truck plant to build and navigators. the move secured 1000 jobs at the louisville plant. the winning streak has come to an end. the investment firm hosted a 33% drop in bond trading revenue, fixed revenue fell to roughly $158 million with total trading declining 7%....
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Jun 21, 2017
06/17
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secondly, other car companies like ford have been looking to come in and take uber's lunch. not to mention companies like bmw and were cities. germany, havet in a easier zip car solutions for people to use. there is a lot more competition than in 2009. he is going to stay on the board as well. is still going to be there, influential. he has had a huge role in the success of uber. you don't get to be a $60 billion company for nothing. there are still a lot of competition out there. it's taking of, chinese stocks have gained direct access to msci. chairman spoke to bloomberg on daybreak asia. there was strong support with the proposal we put in place. we were able to get even to revise it to a larger number of large caps. that is one thing that was important. the second, a lot of the investors are concerned and sensitized about the data issues to create all sorts of investment vehicles. that is what happened. working together with the shanghai exchange, were able to solve a lot of the issues. yvonne: i remember a month ago, you said those were some of the issues. this two step
secondly, other car companies like ford have been looking to come in and take uber's lunch. not to mention companies like bmw and were cities. germany, havet in a easier zip car solutions for people to use. there is a lot more competition than in 2009. he is going to stay on the board as well. is still going to be there, influential. he has had a huge role in the success of uber. you don't get to be a $60 billion company for nothing. there are still a lot of competition out there. it's taking...
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Jun 18, 2017
06/17
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car companies like ford, gm, and toyota are asking congress to expand the cap on how many cars can be deployed under waivers from safety regulators. this according to the alliance of automobile manufacturers. the automakers are also asking congress to clarify state and federal oversight roles and update vehicle regulations that implicitly require a human driver. coming up, our exclusive interview with the london mayor, and how he expects brexit to impact the london tech scene. this is bloomberg. emily: this week, tech leaders came to the u.k. capital to celebrate london tech week, celebrating london's role as a leading global tech hub. in the city's mayor, sadiq khan, has big plans to push for more innovation. caroline hyde spoke with khan and asked his vision for the future while addressing brexit and his relationship with president trump. mayor khan: i'm really excited. it is europe's largest tech festival and it shows london is a hub for innovation and entrepreneurs. since brexit, we have had companies from facebook to google, snapchat to square announcing record investment, showin
car companies like ford, gm, and toyota are asking congress to expand the cap on how many cars can be deployed under waivers from safety regulators. this according to the alliance of automobile manufacturers. the automakers are also asking congress to clarify state and federal oversight roles and update vehicle regulations that implicitly require a human driver. coming up, our exclusive interview with the london mayor, and how he expects brexit to impact the london tech scene. this is...
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Jun 9, 2017
06/17
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rivals gm and ford in april. itses spiking today boosted market cap to $61.6 billion after elon musk confirm production of the model 3 was on time. today, musk tweeted he created tesla because big auto companies tried to kill the electric car. deutsche bank will not comply with the request by democratic lawmakers to hand over information on its relationship with president trump or trades bank's moscow operations. lawyers say the lender is required by law to maintain confidentiality of customer information. it's mirror-trading skied -- a scandal help to move about $10 million out of moscow. julia: "what'd you miss?" endo international plunged today on news that the fda has --uested the comfort to stop the company to stop selling its opioid. and though has said it is reviewing the fda's request. it is a clear sign that the nation's opioid crisis has become too big to ignore. let's bring in drew armstrong, bloombergs --rmaceutical procedure news. this is just 4% of their revenue. has the stock reacted so dramaticall
rivals gm and ford in april. itses spiking today boosted market cap to $61.6 billion after elon musk confirm production of the model 3 was on time. today, musk tweeted he created tesla because big auto companies tried to kill the electric car. deutsche bank will not comply with the request by democratic lawmakers to hand over information on its relationship with president trump or trades bank's moscow operations. lawyers say the lender is required by law to maintain confidentiality of customer...
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Jun 1, 2017
06/17
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sales gains last month with ford beating general motors for the first time in a year. live in detroit with more data and reaction. this is bloomberg. ♪ julia: this is bloomberg markets. scarlet: automakers rallying today after it made u.s. auto sales mainly be estimates, providing some relief to an industry that has been battered. gm sales miss but for come up yet chrysler, nissan, reported sales about expectations. let's go to our auto reporter in detroit. i cannot help but feel there are shades of 2007 because the numbers were better but on some issues like discounting and fleet sales. reminds me of 2007. >> why do these investors not see it this way? i guess maybe they have baked in negative news and the idea that we are past the sales peak and they are just feeling like, not as bad as it could have been. these are better than expected in terms of volume but they are not high quality sales. still pointst towards possible production cuts later in the year, certainly lower profitability, even in the second quarter. julia: does it take out some of the need for produc
sales gains last month with ford beating general motors for the first time in a year. live in detroit with more data and reaction. this is bloomberg. ♪ julia: this is bloomberg markets. scarlet: automakers rallying today after it made u.s. auto sales mainly be estimates, providing some relief to an industry that has been battered. gm sales miss but for come up yet chrysler, nissan, reported sales about expectations. let's go to our auto reporter in detroit. i cannot help but feel there are...
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Jun 27, 2017
06/17
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., and you export $10 billion worth of cars, more than any other manufacturer, including ford or gm. have you explained that to president trump? harald: i was visiting with the president and his administration. .e are the biggest exporter 70% of our production goes to the world. this by bmw in the u.s., going to the world. that was clearly an investment in people, additional jobs. great people we have here in the plant. the commitment, passion. i also made clear we need free trade. matt: do you think he understood those arguments? even after you met with him at the white house, he went to brussels and told his counterparts that germans are very bad and bmw sells millions of cars here and he wants to put a stop to that. does that were you? -- worry you? harald: no. this is a great achievement, which is acknowledged as well. we need free trade for future growth, future business development. we may be have to explain that a little bit further. but i'm sure we will have a good relationship with the u.s. administration. matt: rolls-royce is my very favorite car of all time. which i make t
., and you export $10 billion worth of cars, more than any other manufacturer, including ford or gm. have you explained that to president trump? harald: i was visiting with the president and his administration. .e are the biggest exporter 70% of our production goes to the world. this by bmw in the u.s., going to the world. that was clearly an investment in people, additional jobs. great people we have here in the plant. the commitment, passion. i also made clear we need free trade. matt: do you...
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Jun 4, 2017
06/17
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are on track for june, but there is a lot of concern about the economic path ford certainly. with a few months left to go, we think it is anybody's guess. we have said that we think that the fed is still on track for ise hikes, but whether it september or not, i think it is too soon to say right now. were just speaking about this comey testimony, the back-and-forth from the white house and whether the president will invoke executive privilege. will puthat this result on the russian investigation, but what message with that send? >> i don't think that would send a very good message. i must say that i think it is very unlikely that will happen. what you have got is a situation thee the former director of fbi is testifying. he has 30 talked a great deal to former fbi director mueller come the special counsel, so he has some idea what he will say. testimony has been coordinated with the special counsel to some extent. i find it very unlikely that executive privilege will be invoked here. if that was going to be the case, i think it would have already been done, but fundamentally,
are on track for june, but there is a lot of concern about the economic path ford certainly. with a few months left to go, we think it is anybody's guess. we have said that we think that the fed is still on track for ise hikes, but whether it september or not, i think it is too soon to say right now. were just speaking about this comey testimony, the back-and-forth from the white house and whether the president will invoke executive privilege. will puthat this result on the russian...
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Jun 1, 2017
06/17
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without discounts, ford sales would have dropped in may. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am courtney collins, this is bloomberg. betty: let's get back to our top story, one that is generate -- generating this reaction around the world. president trump pulling the u.s. from the paris climate pact, saying it is unfair to u.s. workers in the economy. mr. trump: the reality is, that withdrawing is in america's economic interest and will not matter much to the climate. the united states under the trump administration will continue to be the cleanest and most environmentally friendly country on earth. betty: let's get straight to washington to our white house reporter. tell us a little more about the mood during that conference and the immediate reaction. reporter: the immediate reaction was pretty swiftly negative, despite trump having worked so hard on this appeal of being a pro-business president, surrounding himself with ceos, many of the ceos he has brought into the
without discounts, ford sales would have dropped in may. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am courtney collins, this is bloomberg. betty: let's get back to our top story, one that is generate -- generating this reaction around the world. president trump pulling the u.s. from the paris climate pact, saying it is unfair to u.s. workers in the economy. mr. trump: the reality is, that withdrawing is in america's economic...
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Jun 26, 2017
06/17
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we calculated it on a blended ford price-to-earnings. do you own any? >> in terms of food companies and defensive generally come they are quite high multiples relative the market. this is nestlÉ versus its own sector. element tod proxy the ownership we have of these sectors. what is interesting is the last 12 months or so has seen strong inflation rising bond yields, which has been a challenge to the sectors. the tailwind is picking up and you could find multiples go up as bond yields go down. francine: what can they do to defend themselves? >> they can review their portfolios. nestlÉ has gone about that with mark schneider. unilever is doing that more aggressively. they can do buybacks and other things to boost returns. spread's or the confectionery business up for sale. that may be the best response. youcine: trevor, how do view the fact there is an activist investor now? can you say the industry in the europe will be targeted by activist investors and what does it mean for shareholders? in thenot involved analysis of individual battles, but you are
we calculated it on a blended ford price-to-earnings. do you own any? >> in terms of food companies and defensive generally come they are quite high multiples relative the market. this is nestlÉ versus its own sector. element tod proxy the ownership we have of these sectors. what is interesting is the last 12 months or so has seen strong inflation rising bond yields, which has been a challenge to the sectors. the tailwind is picking up and you could find multiples go up as bond yields go...
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Jun 2, 2017
06/17
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it's the advanced research program ford vans to energy. we are saying we are not going to do it. just handed over to china and other countries. that's the america last policy. francine: there must be something they are getting right. equities are higher. animal spirits are back. it seems businessmen are focusing on deregulation that we hope will come soon. they are focusing on tax reform. that will deliver growth. jeffrey: this is the most trivial population -- populism. the idea that a little bit of a stock market up is proof of anything has been proven wrong 10,000 times in our modern economic history. the administration is not getting anything right. it's a disaster and the worst we've had in modern history. francine: do you agree? julia: i don't think this administration is valuing the kinds of research and development and future looking policies that jeffrey is outlining. i also agrees it putting too much weight on signals coming from the stock market, lesser member that china ingested investment and that lifted the global cycle. that left a lot of company prospects. this is
it's the advanced research program ford vans to energy. we are saying we are not going to do it. just handed over to china and other countries. that's the america last policy. francine: there must be something they are getting right. equities are higher. animal spirits are back. it seems businessmen are focusing on deregulation that we hope will come soon. they are focusing on tax reform. that will deliver growth. jeffrey: this is the most trivial population -- populism. the idea that a little...
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Jun 16, 2017
06/17
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>> look at ford. they replaced their ceo. the market is saying we understand you believe this is the future, but we don't think you can get there. david: apple's going into autonomous vehicles. there may be a new future there. virtual reality is another area that seems to be growing fast. these companies, there is the legacy companies and tech companies. the markets believe the legacy companies cannot get there. amazon is online, but walmart is money tos pending more get online, but they are not breaking through. maybe the question is, is the price of the other company too expensive? jon: coming up, bloomberg real yield. $5.4 trillion in assets under management. ♪ jon: donald trump faces a growing headache in d.c. another inquiry into his firing of james comey. brexit negotiation talks will begin on monday. the global reflation story continues to stumble. is chair yellen by herself? she keeps hiking. this is bloomberg daybreak. the tone of the market this cable goesures, nowhere. , yields higher by a single basis point. dav
>> look at ford. they replaced their ceo. the market is saying we understand you believe this is the future, but we don't think you can get there. david: apple's going into autonomous vehicles. there may be a new future there. virtual reality is another area that seems to be growing fast. these companies, there is the legacy companies and tech companies. the markets believe the legacy companies cannot get there. amazon is online, but walmart is money tos pending more get online, but they...
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Jun 6, 2017
06/17
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it trades at a huge discount even to ford. the stock would be 30-40% higher. i think that something needs to be done to unlock the value. david: we turn now to our detroit colleague jamie butters. give us a sense of this proxy fight, which is what it is. esther einhorn's three candidates of the board to get his plan through. is this likely to prevail? >> it doesn't seem very likely. we didn't see the jump in the stock value when it was initially proposed. there are a lot of institutional forces against it. but it definitely reflects the ongoing pressure that mary barra is under. the stocks have been very depressed. he gives her credit for doing a good job on the operations but driving that value, making a compelling case to wall street has really eluded her and her team. david: that is the central puzzle. not only in general motors. as you say, mr. einhorn says mary barra has run the company well but their stock price does not come up. mary barra is getting news coverage in advance of the meeting, saying "i've got a problem with stock prices." what can she do?
it trades at a huge discount even to ford. the stock would be 30-40% higher. i think that something needs to be done to unlock the value. david: we turn now to our detroit colleague jamie butters. give us a sense of this proxy fight, which is what it is. esther einhorn's three candidates of the board to get his plan through. is this likely to prevail? >> it doesn't seem very likely. we didn't see the jump in the stock value when it was initially proposed. there are a lot of institutional...
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Jun 9, 2017
06/17
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are you seeing a global slowdown indicative of not only an economic slowdown but a toyota or ford or gm slowdown? david: actually, the global auto industry is in fairly decent shape. the u.s. is coming off its peak but it was just that, the u.s. auto industry had robust growth since the crisis and now we see a little softening. you do not see a hard landing so far and given the state of the consumer and increasing employment, you will not see a hard landing in u.s. autos, and the european modern -- european auto market is doing well. , despite thet e.m. chinese have taken away some subsidies, that market is hanging in pretty good. the only place you see a little distressed and autos is in the u.s. where there is a little more competition, but this can almost be expected given the selling level the u.s. market had. the memoshow much of and leaks and testimony as we had yesterday will be a distraction for your republican party, that they will focus on that and try and defend or understand what the president of or hasn't done instead pushing through reforms and infrastructure spending?
are you seeing a global slowdown indicative of not only an economic slowdown but a toyota or ford or gm slowdown? david: actually, the global auto industry is in fairly decent shape. the u.s. is coming off its peak but it was just that, the u.s. auto industry had robust growth since the crisis and now we see a little softening. you do not see a hard landing so far and given the state of the consumer and increasing employment, you will not see a hard landing in u.s. autos, and the european...
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Jun 2, 2017
06/17
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it trades at a huge discount even to ford. multiple, the stock would be 30-40% higher. something needs to be done to unlock the value at g.m. david: is that is the diagnosis? why have they not addressed it? mary knows there is a problem. she has a team around her. why haven't they addressed it? >> i think there is caring about a stock price and "caring" about a stock price. i could lose the last five pounds but do i care enough to change my diet and exercise to do that? where i would rather have five pounds less, i am not willing to do that. g.m. would prefer a higher stock price but not willing to do what it takes to make that happen. david: is also possible they are scarred from the expense of going bankrupt and having come back into the marketplace and saying we need money for a rainy day? might they be right about that? >> sure. arecompany has said they forever grateful to the united states for bailing them out and preserving the company through the last recession. the company is capitalized to make sure that positively never happens again. i think there are several
it trades at a huge discount even to ford. multiple, the stock would be 30-40% higher. something needs to be done to unlock the value at g.m. david: is that is the diagnosis? why have they not addressed it? mary knows there is a problem. she has a team around her. why haven't they addressed it? >> i think there is caring about a stock price and "caring" about a stock price. i could lose the last five pounds but do i care enough to change my diet and exercise to do that? where i...